The Ukrainian Deposit Guarantee Fund has enough funds to make payments to depositors of insolvent banks.

Managing Director of the Deposit Guarantee Fund Kostiantyn Vorushylin said this in an interview with Ukrinform.

“The Fund has enough money for payments. In addition, we have securities that have not been yet monetized. In general, we have UAH 12.96 billion for May," Vorushylin said.

Speaking about borrowings, he stressed that the Deposit Guarantee Fund borrowed from the Finance Ministry nearly UAH 70 billion so that to pay out guaranteed funds to depositors of insolvent banks.

"We owe UAH 9.1 billion to the National Bank. These credits were issued to us at 10-12% interest per annum. At the same time, we are not a business structure, we must return UAH 148 billion in 18 years. This issue must be settled. We do not have such revenues from banks," Vorushylin added.

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